June 28 Commodity Futures Buying and selling Fee (CFTC) introduced that Choose Naomi Reice Buchwald of the U.S. District Courtroom for the Southern District of New York entered a default judgment granting a everlasting restraining order in opposition to Michael Ackerman, a resident of Alliance, Ohio.
Ackerman is now prohibited from partaking in any buying and selling exercise in CFTC-regulated markets and is prohibited from registering with the CFTC. Along with these restrictions, the judgment additionally ordered Ackerman to pay $27 million in restitution. As well as, Ackerman is ordered to pay a $27 million civil financial penalty, a big monetary consequence of his involvement within the fraudulent scheme.
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